Economy

Attack on Huawei part of US bid to open second front - USA

Attack on Huawei part of US bid to open second front - USA The U.S. had requested no bail for the executive, who still faces extradition to the states. She has been accused of conspiracy to defraud banks after the company allegedly violated sanctions against Iran. Huawei CFO Meng Wanzhou was arrested in Canada last week , after the USA issued an global warrant for her arrest. She also confirmed during a news conference that her department is awa... [Full Article...]

Paris braces for new round of violence amid widespread protests

Paris braces for new round of violence amid widespread protests Against so-called green taxes and a major squeeze in French workers' cost of living, the Yellow Jackets movement represents "a rejection of all things Macron", admitted the liberal US magazine Slate this week. He also announced a freeze in electricity and natural gas prices until May. But the policy, along with comments deemed insensitive to the working class, has prompted numerous ex-bank... [Full Article...]

Saudi, Russia leave world guessing after OPEC meeting

Saudi, Russia leave world guessing after OPEC meeting The lower prices may lead to a slowdown in drilling activity and lower investments in the shale patch, USA oil industry executives and analysts say. In preparatory meetings ahead of this week's summit, delegates had said a cut of as much as 1.3 million barrels a day next year is needed as demand growth slows and USA shale production surges. [Full Article...]

China to 'immediately' apply measures agreed in trade truce with US

China to 'immediately' apply measures agreed in trade truce with US But the mood has quickly soured on scepticism that the two sides will be able to reach a substantive deal on a host of highly divisive issues within the short negotiating period agreed. It took only two days for the sheen to wear-off Trump's boast China had bowed to his demands. President Donald Trump, right, has dinner with China's President Xi Jinping, left and members of their delegation at t... [Full Article...]

Trump says he has "incredible relationship" with Xi

Trump says he has President Trump has changed all that. President Trump is touting great progress on trade talks with China, following his meeting with the Chinese president at the G20 summit. It should be according to the scheduled 90 days, no agreement, there will be an increase in the customs duties. On the non-trade issues, Beijing was more open, announcing that China will tighten supervision of Fentany... [Full Article...]

Trump says will formally terminate NAFTA soon

Trump says will formally terminate NAFTA soon If Trump ends NAFTA, Congress would have 60 days to approve USMCA or both trade deals would be void. The U.S. president, along with Canadian and Mexican leaders, signed the new deal, the U.S. "I don't see how they get this ratified by Congress", Toomey said. "You're going to vote no on the USMCA?" Sen. Sherrod Brown, D-Ohio, has been critical of the new trilateral trade deal. [Full Article...]

How cynical should you be about the Trump-Xi deal? Watch commodities

How cynical should you be about the Trump-Xi deal? Watch commodities Washington agreed to delay a tariff increase on more than 200-billion US dollars' worth of Chinese imports to 25-percent from 10-percent originally planned to go into effect on January 1st, . At a more than two-hour dinner meeting in Buenos Aires , the US agreed to temporarily halt escalating trade actions and China agreed to begin opening up its markets to American goods. [Full Article...]

Qatar Will Pull Out Of OPEC, As Rift With Saudi Arabia Deepens

Qatar Will Pull Out Of OPEC, As Rift With Saudi Arabia Deepens President Donald Trump repeatedly has criticized both OPEC and US ally Saudi Arabia over rising oil prices in recent weeks, demanding a production increase to drive down USA gasoline prices. Qatar says it will quit the OPEC cartel of oil producers on January 1 after 57 years of membership. The group that initiated the blockade, which also includes Egypt , the UAE, and Bahrain, accused Qat... [Full Article...]

German prosecutors raid Deutsche Bank offices amid investigations into tax havens

German prosecutors raid Deutsche Bank offices amid investigations into tax havens The bank tweeted: "It is true that the police is now conducting an investigation at a number of our offices in Germany". Bank employees are suspected of having helped clients to establish the firm in tax oases and conducted banking transactions with the money obtained by illegal means, not stating the authorities on suspicion of money laundering. [Full Article...]

Markets may have misread Powell speech, analysts say

Markets may have misread Powell speech, analysts say From the Fed's perspective, the interest rate hike in December will probably lead to an interest rate level that will no longer justify the automatism of a quarterly interest rate hike. "Not even a little bit. However, several dealers noted that they perceived recent communication regarding the neutral policy rate and its role in informing monetary policy as being unclear or at times inconsistent ... [Full Article...]

General Motors Layoffs Signal Uncertain Future for American Cars-and More

General Motors Layoffs Signal Uncertain Future for American Cars-and More The Twitter account of Treasury Secretary Steven Mnuchin amplified a message from an anonymous account called "The_Trump_Train" on Wednesday that demanded GM "pay back the $11.2 billion bailout that was funded by the American taxpayer". Dias, said Ottawa is ready to look at options to save the Oshawa plant, including loans and subsidies. It sparked tariffs on foreign-made brandy, dextrin, potato s... [Full Article...]

Oil Slides Toward Worst Loss in a Decade as Russia Mixes Signals

Oil Slides Toward Worst Loss in a Decade as Russia Mixes Signals But oil trade, vital for Russian economy, is conducted in U.S. dollars, a "monopoly" Russia's President Vladimir Putin wants to end. The price of oil has fallen by just over a fifth since the end of October and by almost a third over the past two months, in declines not seen since 2008. [Full Article...]

Oshawa GM plant to close, sources say

Oshawa GM plant to close, sources say Barra said. Chief Executive Officer Mary Barra has said the move will free up as much as US$6 billion annually to spend on electric vehicle and autonomous driving technology. Trump criticized the closures while speaking to reporters Monday afternoon and said he spoke to Barra. GM was swept up in the financial crisis of 2008-09, and received bailout loans worth US$60-billion from the governme... [Full Article...]

Donald Trump warns China he won't back down on trade tariffs

Donald Trump warns China he won't back down on trade tariffs Less than an hour before tweeting that the meeting was off, Trump told reporters gathered on the South Lawn of the White House that "we haven't terminated that meeting". En route to Argentina, Xi said in Spain on Wednesday that his government would indeed boost protection of intellectual property, although foreign companies in China complain they have heard such promises before. [Full Article...]

Trump Wants GM to Halt Car Production in China

Trump Wants GM to Halt Car Production in China The restructuring reflects the changing US and North American auto markets as manufacturers continue a dramatic shift away from cars toward SUVs and trucks. GM said it is cutting production of several auto models, including the compact Chevrolet Cruze , as part of a massive restructuring that will eliminate about 5 percent of its North American workforce. [Full Article...]

Foreign Secretary condemns Russian aggression in the Sea of Azov

Foreign Secretary condemns Russian aggression in the Sea of Azov The approved measures included a partial mobilisation and strengthening the country's air defences. As a result of the skirmish between the two navies , BBC says six Ukrainian sailors were injured. The incident took place on Sunday as three Ukrainian naval ships were transiting from Odessa on the Black Sea to Mariupol in the Sea of Azov, via the Kerch Strait. [Full Article...]

White House Climate Report Warns of Worsening US Disasters

White House Climate Report Warns of Worsening US Disasters The report lays out the impacts of climate change on natural resources and environmental services in USA territories from Puerto Rico to the country's Midwest region, which comprises 18 percent of the country's GDP through agricultural production. [Full Article...]

Amazon Alexa Devices Get Skype Calling Support in India

Amazon Alexa Devices Get Skype Calling Support in India Once enabled, you'll be able to start Skype calls by using phrases like "Alexa, Skype mom" or "Alexa, call dad on Skype". If you aren't targeted you can try linking your Chase Ultimate Rewards card with your Amazon account here and then check back after a few days. [Full Article...]

Forecasters warn Thanksgiving could be the coldest on record

Forecasters warn Thanksgiving could be the coldest on record Looks like we'll tack on several more days before we finally reach our normal. Given the timing, I'm concerned some could get caught in some of these intense snow showers which could create white-out conditions. Temperatures will start in the mid-30s and warm to the mid-40s. An isolated (20%) chance for a shower builds in for the afternoon hours, but evening showers and overnight showers are mor... [Full Article...]

British cabinet meets as DUP, Spain revs up pressure over Brexit deal

British cabinet meets as DUP, Spain revs up pressure over Brexit deal Extending transition is expected to cost up to £10billion a year in European Union subscriptions but is a possible way of avoiding using the controversial Irish border backstop. Madrid is seeking to secure what it sees as its right to negotiate the future on Gibraltar with Britain on a bilateral basis after Brexit. Spain has said it will not agree to the draft Brexit withdrawal deal without c... [Full Article...]


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